Foxconn hasn't laid anyone off, yet

It seems like the rumours about Foxconn already having laid off staff aren't true, at least if we're to believe a company spokes person quoted by Digitimes. According to Edmund Ding at Foxconn, the company "has not yet issued any official layoff orders".

This doesn't sound too good to us, as it really seems like Foxconn is about to lay people off and he goes on to say "It would be reasonable to cut operations that have been underperforming on high costs, but such moves would only be conducted in line with the laws of the countries hosting the operation". The story mentions people being moved around between various departments, but so far there haven't been any actual layoffs.

Foxconn is rumoured to already have laid off some 10,000 factory workers in China and some management staff is meant to have returned to Taiwan. This might not have been the case, but with Foxconn sitting on too much inventory, it doesn't seem like the company is seeing its best day's right now.